|NeoStem selected "Best Stem Cell Company, 2010"|
|By Staff and Wire Reports|
|Tuesday, 06 July 2010 12:45|
NeoStem, Inc. (NYSE Amex: NBS) has been selected as the "Best Stem Cell Company, 2010" in The New Economy's Biotech Awards, which identify excellence in the field of technology.
The respected U.K. based and editorially independent magazine introduces its readers to exceptional thinking and progress in the fields of energy, finance, international affairs, science and technology.
According to The New Economy's editor Jan Spiegel, who chaired the panel overseeing the awards, "Biotechnology is an exciting field, perhaps nowhere more so than in the area of adult stem cells. The building of NeoStem's adult stem cell platform and its leadership role in this field has been gaining increased recognition including from the Pontifical Council for Culture of the Vatican in the recently announced exclusive collaboration."
Neostem's stock has recently overreacted to fear of dilution based on a $5 million financing despite the historic backing from The Vatican, very affirmative revenue projections and other positive developments involving its China based Suzhou Erye Pharmaceutical Company- which reported over $11 million dollars in revenues for 2009. Street analysts believe the revenues for those operations should be over $80 million and potentially higher in 2010 given the acceleration and relocation of the company's new production plant. Those efforts have doubled Suzhou Erye's capacity.
Dr. Smith will accept the award at a presentation and interview to be held at the London Stock Exchange this coming Thursday, July 8, 2010 at 11:00 a.m. GMT.